Supreme Court of Iowa October 13, 1999, 97-1780 (Builders Kitchen & Supply Co. v. Pautvein)

LAVORATO, Justice.

Iowa Code section 572.3 (1997) denies a mechanic’s lien to anyone “who, at the time of making a contract for furnishing material or performing labor, or during the progress of the work, take[s] any collateral security on such contract.